Author: FX
Michael Pfister at Commerzbank notes the Bank of Canada (BoC) kept rates at 2.25% and sees little impetus for near-term tightening given easing core inflation and a weak real economy. Market pricing now reflects only one hike by December. He argues monetary-policy pressure on the Canadian Dollar (CAD) should ease, leaving USD/CAD direction dependent on broader US Dollar moves.BoC caution weighs on Canadian Dollar”As expected, the Bank of Canada (BoC) kept its key interest rate at 2.25% yesterday. At the same time, policymakers gave little indication that this might change in the near future.””We have argued for some time that,…
The MT4 Strength Indicator is designed to tackle this exact problem. By quantifying the relative strength of currencies, it highlights which pairs have genuine directional pressure. That way, traders can avoid weak setups and focus on movements backed by actual momentum. For example, on a 1-hour USD/JPY chart during a high-impact news release, the indicator can reveal whether the spike is genuine or a temporary fake-out. Here’s the thing: knowing how to read strength isn’t just about spotting trends; it’s about timing entries and exits with confidence. In this guide, we’ll break down how this indicator works, how to set…
There are just a few expiries to take note of on the day, as highlighted in bold below.The first being for EUR/USD at the 1.1530 level. It is not one that ties to any technical significance, so the expiries may not factor too much into play. For now, price action is seeing a bit of consolidation with the ECB policy decision set to be a focus point in the day ahead.The 100-hour moving average at 1.1550 is locking down the upside potential for the pair, with price movements keeping just below that for now. So, that will be a key…
Gold prices rose in Saudi Arabia on Thursday, according to data compiled by FXStreet.The price for Gold stood at 492.12 Saudi Riyals (SAR) per gram, up compared with the SAR 491.43 it cost on Wednesday.The price for Gold increased to SAR 5,739.96 per tola from SAR 5,731.99 per tola a day earlier.Unit measureGold Price in SAR1 Gram492.1210 Grams4,921.17Tola5,739.96Troy Ounce15,306.47FXStreet calculates Gold prices in Saudi Arabia by adapting international prices (USD/SAR) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates…
CHF/JPY just bounced off the top of the range visible on its 4-hour time frame and appears to be setting its sights back on the floor. Source link
Oil rises more than $1 as escalation in US-Iran strikes unnerve traders Source link
The U.S. Consumer Price Index rose 4.2% year-on-year in May, its fastest pace since April 2023, with surging energy costs driven by the Middle East conflict accounting for the bulk of the monthly increase. Source link
The note argues that record fast crude inventory draws are being misread as evidence of no supply problem, when in fact roughly 11 million b/d of shut in production is being offset by a combination of higher refinery throughput, SPR releases and storage drawdowns, none of which are sustainable. If global onshore inventories including SPR are genuinely six weeks from operational minimums, this suggests the market is significantly underpricing tail risk around a supply driven price spike, particularly if any resolution to the Hormuz situation is delayed.The piece is here, its a great read, much better than my trimmed down…
The Breaker Block Indicator MT4 is a technical analysis tool designed to identify breaker blocks, a concept widely used in institutional trading and smart money strategies. A breaker block forms when price breaks a previous support or resistance structure and then returns to that zone. This previous level often flips its role. A broken resistance can become support, and a broken support may act as resistance. The indicator scans historical price data to detect these structural breaks. Once a breaker block is confirmed, it draws a highlighted zone on the chart. Traders then watch how price behaves when it revisits…
The US Central Command (CENTCOM) said it began “additional self-defense strikes” on Wednesday against “multiple targets in Iran,” the Guardian reported. The US military added, “The strikes are in response to Iran’s unwarranted and continued aggression.”This action came after US President Donald Trump said that US forces would hit the country “hard” as Tehran has taken “too long to make a deal” to end the war.Iran’s top joint military command said on Wednesday that it is closing the Strait of Hormuz for “passage of any vessels,” adding that any vessel that attempts passage will be targeted. The closure order includes…